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Mark Bower

Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.

Brits won’t give up their 2012 holidays, despite the crisis

A new study has revealed Brits' conviction to enjoy their holiday break even though they need to cut down on costs.

49% of British adults (up to 23.6 million of people) are planning to take a ‘major' trip of a week or longer this year. This is what new research from British Airways American Express Credit Cards has revealed.

While two in ten Brits sacrificed their holidays last year due to financial problems, figures from the study showed that only 9% of them plan to take this austere measure this year.

UK travellers are expected spend up to £923 per person on holidays this year, with the majority of them (63%) flying overseas and 28% staying in the UK instead.

Most travellers want to have their holiday break in July or August and hope to plan it up to three months in advance. Therefore, it is expected that the majority of them will book their flights, accommodation and cheap car rentals within the next month.

Saving up this holiday

A quarter of Brits considered their break as ‘the big purchase they plan to make in 2012′, even though 24% of them think it will be more expensive than last year.

"We are seeing a rise in the number of alternative and innovative ways of saving money while on holiday. For example, our research found that 47 per cent of UK adults have or would consider a ‘house swap' holiday; exchanging properties with another person or family either in the UK or abroad, as a way to save money and have a new experience,” explained Julie Hay, Head of British Airways American Express Credit Cards at American Express.

Further ways of boosting finances to help pay for 2012′s holiday include 22% of Brits paying with credit cards and a further 3% using loyalty/rewards points.

Comparing prices on holiday products is still the best way of saving as much money as possible this year. Cheap car rentals can be easily found online, as well as affordable flights and accommodation deals. Whenever you are travelling this year, keep in mind that the sooner you book your holiday, the better.